I also have a 5R Milspec...Actually 2 of them... A 24" .308 Win, and a 26" .300WM. Trigger swaps on both, made sure the barrels were fully-floating, and torqued the action screws to 65 inch-pounds. That's it. No other work was necessary.
I bought the the .308 Win new back in 2010, and will shoot under 1/4-MOA with handloads. The .300WM I bought new in 2014, and still have never fired it.
As for optics, almost all of my LR rigs have Vortex Viper HS-T 6-24x50 MRAD scopes sitting in Seekins Precision low rings, sitting on EGW 20MOA bases.
https://swfa.com/vortex-6-24x50-viper-hs-t-30mm-rifle-scope.html
I do have several other brands of scopes, and another good one is the SWFA SS 3-15x42 with their MilQuad reticle. I prefer SFP scopes, so both of mine are the SFP model, but they stopped selling them sometime last year, and now they only offer it in FFP.
https://swfa.com/swfa-ss-3-15x42-tactical-rifle-scope-3.html
If money is not an issue, and you want a really good low-light scope, the Kahles Helia KX 3.5-10x50 is a great one. I have this scope on my main lightweight deer rig. The glass is simply amazing.
https://www.midwayusa.com/product/1...cope-35-10x-50mm-illuminated-4d-reticle-matte
Its been discontinued, but you might can find one somewhere. If you do, they're very lightweight and the glass is as top-tier as an other German/Austrian glass you'll find.